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Two in Five UK Consumers Don’t Trust Their Mobile Finance Apps to be Secure

39% of UK consumers think that financial mobile apps do not provide enough security

Over a third of consumers believe their financial mobile applications are not secure enough. That’s according to a new “Future of Finance” report from digital experience consultancy Episerver, which surveyed 1,000 UK consumers on their expectations of mobile financial service apps and how they manage money on the move.

Consumers aged over 55 are the most likely to be concerned by the security of their mobile apps, with 78% ranking security as a top priority. This compares to 60% for 25-34 year olds. Blackberry users  also ranked as the most likely to hold strong concerns around mobile app security. 

Despite security being a key concern, users want to ensure that the mobile login process does not become any more complicated than it already is. A quarter (25%) of those surveyed are frustrated by the complex security logins required by today’s financial service apps, making for a difficult balance for mobile financial marketers to strike.

Commenting on the new research, James Norwood, CMO at Episerver, said, “Given the complex nature of financial purchasing decisions, as well as the significant values involved, many financial retailers have struggled to convert their services into a mobile friendly format. Clearly the ability to convince customers that their financial purchases are secure is a big part of this.

“Recent advances in technology can help marketers to overcome this challenge, however. Through the development of a mobile strategy that takes advantage of secure touch IDs and one-click social media logins, marketers can quell security fears while still managing to build an intuitive user experience for their end customers.”

To find out more about the future of mobile finance, or to download the full Episerver report, click here

 

For media information, please contact:
Alex Warren/Joanne Row

Wildfire PR

Episerver@wildfirepr.com

020 8408 8000

About Optimizely (Episerver)

At Optimizely (Episerver), we're on a mission to help people unlock their digital potential. With our leading digital experience platform (DXP), we equip teams with the tools and insights they need to create and optimize in new and novel ways. Now, companies can operate with data-driven confidence to create hyper-personalized experiences. Building sophisticated solutions has never been simpler. Optimizely’s 900+ partners and 1100+ employees in offices around the globe are proud to help more than 9,000 brands, including Toyota, Santander, eBay, KLM and Mazda, enrich their customer lifetime value, increase revenue and grow their brands. Learn more at optimizely.com.

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Media Contacts:

Rachel Teitt Gill
Director of Corporate Communications, Optimizely
+1 740-815-1588
rachel.teitt@optimizely.com

Lucas Strombeck
Sr. Public Relations Manager, Walker Sands
+1 312-561-2485
lucas.strombeck@walkersands.com